The Making of an Oligopoly: Firm Survival and Technological Change in the Evolution of the U.S. Tire Industry
研究美国轮胎行业从众多生产者演变为寡头垄断的过程,利用企业进入、退出、规模等数据,检验技术变革如何影响企业生存,发现早期进入和规模较大的企业存活更久。
The number of producers in the U.S. tire industry grew for 25 years and then declined sharply, and the industry evolved to be an oligopoly. The role of technological change in shaping the industry's market structure is explored. A model of industry evolution featuring technological change is used to derive predictions that are tested using a novel data set on firm entry, exit, size, location, distribution networks, and technological choices prior to the shakeout of producers. Consistent with the model, earlier-entering and larger firms survived longer, principally because of the influence of age and size on technological change.